<\/span><\/h2>\nLeasing a car<\/strong> involves making monthly payments to use the vehicle for a fixed period, typically two to four years. At the end of the lease term, you have the option to either return the car to the dealership or purchase it at a predetermined price, known as the residual value. However, an often overlooked third option is trading in the leased car towards the purchase or lease of a new vehicle.<\/p>\nTrading in a leased car<\/strong> works in a similar way to trading in a car that you own. When you trade in a vehicle, its trade-in value is applied as a credit towards the purchase or lease of your new car. This reduces the overall cost of the new vehicle, making it an attractive option for many people.<\/p>\n